Cryptocurrency vs fiat currency. What does fiat mean and ...

The reasons for #Bitcoin adoption are far more humble than the ideals of the hard core. That doesn't mean the ideals aren't necessary. The ideals are what give #Bitcoin the moral high ground versus fiat money and ultimately lead to its victory - Jimmy Song

The reasons for #Bitcoin adoption are far more humble than the ideals of the hard core. That doesn't mean the ideals aren't necessary. The ideals are what give #Bitcoin the moral high ground versus fiat money and ultimately lead to its victory - Jimmy Song submitted by Bit2buzz to BitcoinSerious [link] [comments]

The reasons for #Bitcoin adoption are far more humble than the ideals of the hard core. That doesn't mean the ideals aren't necessary. The ideals are what give #Bitcoin the moral high ground versus fiat money and ultimately lead to its victory - Jimmy Song

The reasons for #Bitcoin adoption are far more humble than the ideals of the hard core. That doesn't mean the ideals aren't necessary. The ideals are what give #Bitcoin the moral high ground versus fiat money and ultimately lead to its victory - Jimmy Song submitted by Bit2buzz to CryptoCurrencies [link] [comments]

Will Reeves (Fold CEO): “Now that anyone can pay a lightning invoice with a debit card, merchants that want or need to accept bitcoin no longer have to sacrifice market size. That means the better products and services offered by bitcoiners, the more fiat will flow into Bitcoin from nocoiners.”

Will Reeves (Fold CEO): “Now that anyone can pay a lightning invoice with a debit card, merchants that want or need to accept bitcoin no longer have to sacrifice market size. That means the better products and services offered by bitcoiners, the more fiat will flow into Bitcoin from nocoiners.” submitted by eragmus to Bitcoin [link] [comments]

General question: At what point does comparing Bitcoin price to fiat (USD) value become meaningless? If Bitcoin reaches 1 million, or more, doesn’t that means the trust in fiat has fallen considerably?

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"WSJ: Negative Rates, Designed as a Short-Term Jolt, Have Become an Addiction". Anyone who doesn't shit a brick when they read that headline doesn't understand what it really means - or the urgency to diversify away from Fiat. It's the entire reason for Bitcoin. [text below]

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03-09 14:04 - '"Yay! Bitcoin is unrelated to fiat world, it is secure asset that was created to prevent global crisis and hyperinflation, it doesn't correlate to stock market and oil for sure!" I mean, this is the sign of crisis...' (i.redd.it) by /u/Empirismus removed from /r/Bitcoin within 3-13min

"Yay! Bitcoin is unrelated to fiat world, it is secure asset that was created to prevent global crisis and hyperinflation, it doesn't correlate to stock market and oil for sure!" I mean, this is the sign of crisis right here, and we can look at how BTC will perform in crisis, based on today behavior
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The argument that Bitcoin saves the user from fiat inflation is a "Store of Value" argument. There already exists many far superior stores of value in S&P 500/Real Estate/Gold. The only reasonable argument for Bitcoin as a "Means of Exchange" is that it saves the user from extortion (censorship).

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05-29 02:03 - 'If a stable coin does not have an 1:1 all-cash reserve, do you think this means it fails to keep its value on par with USD?https://medium.com/sophonexchange/stable-currencies-fiat-vs-crypto-a2ab0a50e903?sour...' (i.redd.it) by /u/Gabrielle1111 removed from /r/Bitcoin within 112-122min

If a stable coin does not have an 1:1 all-cash reserve, do you think this means it fails to keep its value on par with USD?https://medium.com/sophonexchange/stable-currencies-fiat-vs-crypto-a2ab0a50e903?source=friends_link&sk=f34d3104f7c3ca7bbe91ae508f556e56
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Most recent Bitcoin trades have been for fiat currencies and Tether: Does this mean new money is coming in to the cryptosphere?

"Crypto markets are rising, and Bitcoin (BTC), which constitutes more than half the market’s value, is among the big winners. Most BTC trades have been against fiat currencies and the stablecoin, Tether (USDT), suggesting that some investors are beginning to move value out of safe havens and into riskier digital assets. This could be a sign that confidence is returning to the market."
This is a really interesting observation (from the article linked to below). It suggests that new money is once again ia flowing into the cryptosphere. If so, I can't help but think that this can only be a good thing.
https://cryptobriefing.com/bitcoin-price-investor-confidence/
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Ukraine nationalizes its largest bank, PrivatBank - when *fiat* means *failure*. Bitcoin surges with this news in Ukraine.

Ukraine nationalizes its largest bank, PrivatBank - when *fiat* means *failure*. Bitcoin surges with this news in Ukraine. submitted by btcluvr to Bitcoin [link] [comments]

"The way to stop crypto currency. Stop it developing as a cash system. Government can force the use of Fiat, this is what legal tender means. In time, value reaches a financial carry capacity. If Bitcoin is not used as a payment system, it is simple for government to control."

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12-16 14:43 - 'I'd not focus on the fiat price. It doesnt really mean anything. If it was higher ofc it would bring more hype. But is the hype necessary? Categorically not..... It will only make the industry unhealthy and spiky and even da...' by /u/Keemerah removed from /r/Bitcoin within 541-551min

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I'd not focus on the fiat price. It doesnt really mean anything. If it was higher ofc it would bring more hype. But is the hype necessary? Categorically not..... It will only make the industry unhealthy and spiky and even dangerous.
Just use Bitcoin for its technology, find a way to replace something, anything, with Bitcoin. It will make your life easier. Thats what I did. I found [vegas]1 (first vegas found me but then i won my stuff back and much more after LOL) and sometimes i use bitcoin when i go to my fav cafe.
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Author: Keemerah
1: vegas*asin*.*o/pr**ot*on**utm_s*ur*e=cc-*g-1
Unknown links are censored to prevent spreading illicit content.
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I just realized that underneath the software and decentralization* Bitcoins are ultimately backed by a collective belief that they are valuable. Does that mean it's fiat currency?

*It turns out Chinese ASIC farm owners may be less trustworthy than the US Government.
submitted by captainofindustree to libertyworldproblems [link] [comments]

"Fiat" means "let it be done", defined as "an arbitrary decree." Some have called Bitcoin the "ultimate fiat currency," but it occurred to me that perhaps a better term would be "id est" ("it is"), since it's not decreed by anyone. Crypto-currency = id est currency.

submitted by iwantathink to Bitcoin [link] [comments]

FYI: Fiat performing bad doesn't mean Bitcoin is performing well

Bitcoin's percentage of Total Market Capitalization is still at a low-point at just 80%. It didn't budge recently and it only seems to go down. Which has one likely explanation: With most cryptocurrencies going up in value, fiat is the one actually doing worse. Which is also exactly in line with news reports.
People who claim that Bitcoin's price increase shows that everything is fine - and we have nothing to worry about in terms of scalability - are deluding themselves. And it seems (to a certain degree) that we let them.
The reality is that all (sudden) inflation of any major fiat currency will affect Bitcoin's price positively. But this is not something which is unique to Bitcoin, this affects most (if not all) cryptocurrencies. This is what is happening now, not because Bitcoin as a currency (store of value / settlements / digital cash) is performing better.
To me it seems prominent supporters of a blocksize-limit-increase are only getting more numerous and more vocal. Maybe it is due time to organize ourselves and stand strong together.
Because in absence of off-chain solutions which actually help Bitcoin grow we are going to slowly bleed Bitcoin to death. And previous predictions of spectacular failures - although it gets more viewers and interest - are simply less likely than a slow death.
Bitcoin isn't going to get a blocksize-limit increase via SegWit any time soon, yet we keep running into the limit. And with the price going up and no significant forces to lower fees Bitcoin will become less and less sustainable. And with most Bitcoiners being blind(ed) to any negative news regarding Bitcoin, this doesn't bode well for the future.
So the question is, are we going to jump ship or are we going to give it one last fight?
submitted by seweso to btc [link] [comments]

Fiat means it shall be/is supposed to be in Latin. Fiat currency all over the world, is printed without any physical commodity backing and is only valuable in terms of its govermental prestige. Which one has a real value? Btc or euro/dollar/yen/yuan/sterling etc...? /r/Bitcoin

Fiat means it shall be/is supposed to be in Latin. Fiat currency all over the world, is printed without any physical commodity backing and is only valuable in terms of its govermental prestige. Which one has a real value? Btc or euro/dollayen/yuan/sterling etc...? /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Cryptocurrencies as alternative mean of payment to fiat money (master thesis) /r/Bitcoin

Cryptocurrencies as alternative mean of payment to fiat money (master thesis) /Bitcoin submitted by SimilarAdvantage to BitcoinAll [link] [comments]

Do you think Binance's crypto-fiat pairs will mean cryptos can break away from bitcoin dependancy? Recently ONT and BNB have been breaking away and also xlm, ada been doing well but still cryptomarket depends on btc. I hope the move to malta make it more likely for binance to add crypto-fiat pairs

Do you think Binance's crypto-fiat pairs will mean cryptos can break away from bitcoin dependancy? Recently ONT and BNB have been breaking away and also xlm, ada been doing well but still cryptomarket depends on btc. I hope the move to malta make it more likely for binance to add crypto-fiat pairs submitted by inniM to CryptoMarkets [link] [comments]

Negative interest rates on FIAT. What does this mean for Bitcoin?

Negative interest rates on FIAT. What does this mean for Bitcoin? submitted by MakeTotalDestr0i to Bitcoin [link] [comments]

04-17 10:34 - '[quote] / I don't want to see the world burn so much, but Bitcoin have a value of 5 million per coin. That means I want Bitcoin to consume my fiat. What Governments will have evolved into then, we don't know. / Will it be bett...' by /u/bigfishh removed from /r/Bitcoin within 13-23min

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I see this on other places too, but I find it alarming that so many people around crypto genuinely want to see the world burn.
I don't want to see the world burn so much, but Bitcoin have a value of 5 million per coin. That means I want Bitcoin to consume my fiat. What Governments will have evolved into then, we don't know.
Will it be better than how things are currently? Hopefully. Is that scenario playing out at all? I think so.
Just don't pretend you have a moral high ground because crypto "is going to change the world".
So the thing is really, can you apply what happened all throughout the last decade to the next few years also? As in will Bitcoin keep devouring cash? Will it stop?
And I think the potential is there for Bitcoin to do that. And if that happens, then we don't have Fiat anymore. And if there's no fiat, there's no Government as we know it. It's inevitable. Call it greed, but if that greed works out, Governments will also eventually be gone - the way they are.
Despite the news telling us every day how fucked everything is everywhere, humanity has never been in a better place.
No, the Western World has never been in a better place. You know what guarantees that peace? Nuclear bombs, because we know war among bigger nations pretty much results in a dead earth - loooong winter and stuff. That's why we have peace among the bigger players. No other reason. Besides that of course our environment starts getting fucked and we pray at the moment that more technological advancement will eventually make it so that we can cure the world, because current system is entirely unable to change.
So we must be doing something right.
Yea we have strong bombs. Other places don't have these bombs and are under constant war for the last 2 decades now. There's shit happen in India, all over Africa, ME, South America. These are places, where people live that are less lucky than you. Financial exclusion and hyperinflation are not myths from books. They exist in the real world too. And I'm aware of that and I know that Crypto can help these places too.
Can some African use Bitcoin just like that and understand it? No. But we might get there.
If the US dollar collapses and only those of us holding crypto make it, I would be very sad to see all my family and friends lose everything they have.
That is the same logic when people tell you Bitcoin goes to 0. These things don't happen overnight. Look at you, you're early adopter and in Crypto right now. Of course your family will not be late in getting in Crypto. What price do you think possible in 3 years? Will you tell your family you made gains? Will you maybe change your mind regarding the dollar? Maybe you can get them into Crypto and make them rich? They all see how much money you made over these 3 years, you think they will refuse to buy forever?
Same with Government. It doesn't just drop to 0 just like that in a day. It would lose control over time, and is immediately replaced by something better. That's why it lost control of X to begin with, because something else turned out to do something better than X.
We're not crashing the system. It's simply evolution.
I'm not Einstein, nor a genius or super smart. But Crypto made me question a lot of things about the world I live in. I start asking weird questions, that otherwise I would have probably never asked myself. I think that's part of the game, if you're in Crypto for longer. I think many people have experienced this just like me. How long are you in Crypto? Have your views regarding certain things not changed whatsoever?
Not saying you're new, but I have experienced absolute discomfort, when I tell other people these things too. It's hard to explain vision and not come off as lunatic or conspircacy theorist. That's probably what we are at the moment anyways. I think you have a similar viewpoint to many of my friends.
You see potential much more in the innovation being that transaction costs are fast and low, but I see the main innovation in decentralization and the peer-to-peer networking. That's why Ripple is not really Cryptocurrency to me. Since I also like anonymity a lot, I also like Monero a lot. And I also like to speculate a little with things like Cardano. But the main driver to change will be Bitcoin for the forseeable future.
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Author: bigfishh
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02-26 22:03 - 'Yeah man I know what you mean but I honestly believe that there are bitcoin maximist who are so fundamentally against the idea of BCash that to them it’ll always be worthless because 1Bcash is 1Bcash and the fiat value w...' by /u/IrishChief2018 removed from /r/Bitcoin within 76-86min

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Yeah man I know what you mean but I honestly believe that there are bitcoin maximist who are so fundamentally against the idea of BCash that to them it’ll always be worthless because 1Bcash is 1Bcash and the fiat value won’t matter .
So what I’m hoping is that these people just give it away - don’t even give it to me sell it yourselves and give the fiat to anyone or thing you want .
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Author: IrishChief2018
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02-02 22:03 - 'I am interpreting ideological commitment different to you here. Krugman seems to be making a rational argument as to why fiat has more value. I mean ideological commitment as attaching a value to a coin due to some ideologic...' by /u/LondonSeoul removed from /r/Bitcoin within 2-12min

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I am interpreting ideological commitment different to you here. Krugman seems to be making a rational argument as to why fiat has more value. I mean ideological commitment as attaching a value to a coin due to some ideological position about what it represents. With Bitcoin this is perhaps libertarian values or even anarchism. When people express their support for the dollar it is in real world institutions, state power, etc. Whereas support for Bitcoin is often (not always) in the realm of Utopian political ideas. That was my point.
Edit: He actually alludes to this point at the end of the article (although he is using a bit of hyperbole:
When it comes to cryptocurrencies there’s an additional factor: It’s a bubble, but it’s also something of a cult, whose initiates are given to paranoid fantasies about evil governments stealing all their money (as opposed to private hackers, who have stolen a remarkably high proportion of extant cryptocurrency tokens).
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Fiat vs Bitcoin - why do we need crypto? What does Fiat mean? Bitcoin Mining What is Bitcoin? Bitcoin Explained Simply for Dummies ... Understanding Money: Bitcoin vs Gold and Fiat Currency

Is Bitcoin a Fiat Currency? As stated earlier, a fiat currency is a money that is not backed by gold or any other hard asset. Its value is declared by fiat alone – the issuing government simply decrees that the currency has worth. You can’t trade a Bitcoin for an ounce of gold at a fixed price. Cryptocurrency isn’t issued by any government and there’s a fixed ceiling on how many can ... Bitcoin durch Entwertung von FIAT bestärkt. Der Coronavirus hält nicht nur die Menschen in Atem, sondern vor allem die Unternehmen, die aktuell mit Lieferengpässen und sinkender Nachfrage zu kämpfen haben. Bitcoin, obwohl es als entkoppelte Alternative zum traditionellen Markt gilt, kann der Panik nicht trotzen und fällt weiter im Kurs. Doch auch Gold, was in solchen Zeiten als Store of ... Some exchanges of cryptocurrencies accept fiat money such as dollars, euros, etc. and some are Bring Your own Bitcoin (or sometimes other digital assets). The differences run deeper. Here are the ... Both fiat currency and cryptocurrency can be called money or currency, both are mediums of exchange that are used to store and transfer value, both can be used to purchases goods and services, both have their value governed by supply, demand, work, scarcity, and other economic factors, both have their value affected by the quality of the system surrounding it, both can be traded on exchanges, etc. There are a huge number of ways to exchange your bitcoin for fiat, but the problem is trying to do it privately. Once again, peer-to-peer is king, but there are some exchanges where smaller amounts can be withdrawn without the need for identity checks. Using a decentralized exchange like Bisq allows you to trade without any need for an account, meaning you can mask your identity completely ...

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Fiat vs Bitcoin - why do we need crypto?

Los Angeles, CA- Welcome to the 1 Bitcoin Show! Amazing coinjoin statistic! More power plants to get into BTC mining? Don't play in the fiat realm! Taxes are a nightmare! An attempt by hackers to ... Fiat currency Bitcoin Fiat money vs commodity money What is fiat Money? Non fiat currency Fiat money meaning Fiduciary money. Category Education; Show more Show less. Loading... Advertisement ... Where did the term "fiat" come from, and just what does it actually mean? Is there non-fiat money? And why are we now talking about the distinction? In this video, shot in Vizcaya, Miami, I ... Video shows what fiat currency means. Money that has indirect market value or is given legal tender status by government fiat.. Fiat currency Meaning. How to pronounce, definition audio dictionary ... Your dollar isn't worth the paper it's written on. Literally. There's nothing backing your dollars, euros or yen, nothing but the promise that the note your ...

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